1,073,616 Shares in TELUS Corporation $TU Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,073,616 shares of the Wireless communications provider’s stock, valued at approximately $13,794,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TU. Manchester Capital Management LLC increased its holdings in shares of TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 1,712 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of TELUS by 129.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 1,393 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of TELUS during the fourth quarter worth approximately $33,000. State of Wyoming purchased a new position in TELUS during the second quarter valued at approximately $61,000. Finally, Employees Retirement System of Texas purchased a new position in TELUS during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research analyst reports. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Morgan Stanley downgraded shares of TELUS to an “underweight” rating in a research note on Tuesday, July 21st. Scotiabank lowered TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Finally, Barclays set a $12.00 price objective on TELUS and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.67.

TELUS Stock Performance

TU stock opened at $10.41 on Tuesday. The firm has a 50 day moving average of $11.34 and a two-hundred day moving average of $12.53. TELUS Corporation has a 12 month low of $9.95 and a 12 month high of $16.72. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 7.93 and a beta of 0.63. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the business earned $0.26 EPS. TELUS’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that TELUS Corporation will post 0.72 EPS for the current fiscal year.

TELUS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a yield of 16.1%. The ex-dividend date was Wednesday, June 10th. TELUS’s dividend payout ratio (DPR) is 275.00%.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.